Monday, August 16, 2010

Economic Turmoil: When will it end?

In dismay of economic instability, more businesses calls it quit due to the financial difficulties. The economy that since 2007 received a rating of 47% in foreclosures continues to face difficult challenges. The economic turmoil of the Northern Mariana Islands is a negative portrait to investors and businesses alike. This figure is probably worse today than it was then, when will it end?

Contrast to how marketers yield opportunities, this is the time to start emphasizing on product and spending to stabilize the business growth.  I agree to this, but most businesses on island feeling the pinch differ in thought. The pennies saved is a dollar earned later and when to spend this dollar will not be towards advertising, at least not now in their perspective.

Take for example Verizon, such a large conglomerate company, but there tactics as was told to me by my brother who worked for them at one point indicated that the company does not necessary look at recession as a downfall, but merely looks in the "other" direction where they can make a buck or two.

Can the CNMI look at business this way?Can our tourism officials see that maybe something is not working right with their investment abroad through their offshore offices and what not? Are our advertising plans and actions of acquiring tourist for the islands weak? Is there enough money to support the global competition for tourism? Where do we stand on the paramount downsizing of airlines support for our islands?

This is a reflection of climate change and whether we are ready to embrace the change and effect change, we need to start with our attitude and be driven to find the "other" to steer this economic turmoil.  What we face will be depended upon the people who can make change in their way. Are you ready to effect change?

Now, as an entrepreneur as well, I am looking at the "other" direction. The time is now to get off and sweat more. Determination is my drive, happiness is my success.

Yes, I lost my job, my secured income, but nevertheless, this does not make me incapable of moving and earning for a living. I am determined to get out of this slump and find my oasis in the desert of despair. My wife supports me and my children rely on my presence to deliver, I cannot fail anyone. Not now and not ever!

Wake up Marianas! Go Local and support our local businesses as this is a start! Our Sabalu market, our T-shirt stores that are locally owned, our products that may seem expensive, but in the end, we are all keeping the funds locally and used for our very own benefit.

6 comments:

jcnimitz said...

Hafa Adai my Brother - I am sorry that the economy up in Saipan has forced the closure of the company that you worked for.
I would have to say that I am not surprised by the continuing downturn, there are many factors, some we know, some no one wants to speak about, but this I know - the direction that was taken several years back, with the continuing cuts after cuts after cuts in MVA while the elite continue to line their pockets and only take care of "the inner circle" is what has driven the CNMI nearly to the ground right now.
The leadership of the MVA is I would say, a puppet, a little boy, who was picked on when young and when he is placed in a position of authority, the power went to his head - no happiness for those he leads.
I do not see any advertising for the CNMI down here short of the Garden Show showing something last week and an annual magazine advertisement.
If this is the approach that is being taken here, what more other places?
The old addage of "out of site, out of mind" holds true. without strong marketing actions being taken and supported by people with a mind for making money and knowing what it takes to do the job then all this is just for nothing.
Isn't it interesting that since Perry took the helm, it has been a downward spiral eversince? That will be his legacy - loss of the market share, bullying of subordinates, and not ever knowing what to do, only cashing in the paycheck and piss on everyone.
If you should ever decide to make a move this way, then I will always be there my friend to do what I can, the way you did for me.
But I know you, you do not wish to leave your home, your island, all that you love....you don't wish to quit trying....but if the time should come my friend...just let me know....Take Care...

jcnimitz said...

Hafa Adai my Brother - I am sorry that the economy up in Saipan has forced the closure of the company that you worked for.
I would have to say that I am not surprised by the continuing downturn, there are many factors, some we know, some no one wants to speak about, but this I know - the direction that was taken several years back, with the continuing cuts after cuts after cuts in MVA while the elite continue to line their pockets and only take care of "the inner circle" is what has driven the CNMI nearly to the ground right now.
The leadership of the MVA is I would say, a puppet, a little boy, who was picked on when young and when he is placed in a position of authority, the power went to his head - no happiness for those he leads.
I do not see any advertising for the CNMI down here short of the Garden Show showing something last week and an annual magazine advertisement.
If this is the approach that is being taken here, what more other places?
The old addage of "out of site, out of mind" holds true. without strong marketing actions being taken and supported by people with a mind for making money and knowing what it takes to do the job then all this is just for nothing.
Isn't it interesting that since Perry took the helm, it has been a downward spiral eversince? That will be his legacy - loss of the market share, bullying of subordinates, and not ever knowing what to do, only cashing in the paycheck and piss on everyone.
If you should ever decide to make a move this way, then I will always be there my friend to do what I can, the way you did for me.
But I know you, you do not wish to leave your home, your island, all that you love....you don't wish to quit trying....but if the time should come my friend...just let me know....Take Care...

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About Me

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Just a simple man who loves and cares for his family. Personal views with life in general, business and challenges in the Commonwealth of the Northern Mariana Islands. Sharing what we have through publications BISON Relations push out for everyone to keep abreast of what's happening in our beloved island home, Saipan.